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tv   Fast Money Halftime Report  CNBC  September 27, 2021 12:00pm-1:00pm EDT

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far. jon, traders they get younger all the time >> they do julia, i would like to see him working just four days a week though and see how his trading goes >> yeah. amazing stuff. what will they think of the next we have to get some of his stock picks as well. >> we look forward to seeing all of you let's get to the "half." welcome to the "halftime report". i'm scott wapner is today's stocks a sign of things to come a good to see everybody. we begin with a look at stocks we enter the third quarter big move on interest rates there it is.
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broke out last week pushed close to 150 "today" we settled back just a bit the result of that is a nasdaq that's been under pressure tech continues to sell off financial, energy and industrials catching a nice bid. but shannon i come to you first. the story now of higher rates and lower tech is the biggest story in the market and if we are in a period of higher moving rates are we going to be in a period of lower moving tech? >> well, we certainly seems we saw this story earlier in the year for folks on tech like myself and my team there are some concerns about the sharply rising ten year and the potential for that and what that could do tech stocks i think that there's also this backdrop of continued strong economic growth. we're moving into an environment where economic growth is higher, rates are higher that's not the backdrop where tech did really well in 2018 and 2019 but mika we at th-- my caveat
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there, these big tech companies even at valuations they are trading at can deliver earnings. if we continue to see the strength of this rotation away from technology, away from longer duration stocks i think about it in terms of what will provide me with earnings growth in my portfolio over the next two to three years i would conton we're not going back to a period or going to a period where we will continue to see 5 1/2, 6% gdp growth we'll moderate so a cautionary tale that, you know, unloading a lot of your big tech exposure in this short term period where we may see under performance i think is probably not the best decision if you're looking out over a longer period of time. >> but it does seem we might be getting a re-rating for tech that may have already started. you look at month to date performance especially for the
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biggest names whether it's apple or amazon, we'll talk more specifically about that name in just a moment. facebook has its own issues down 7.5% microsoft and alphabet are also lower as well. if you continue to see the ten year move higher in yield, i'm hard pressed to think that tech is just going settle in and rise right along with it. >> well, the ten year is going to rise. what you'll see is what was witnessed last week. the iwm which is the russell 2000 etf took in $5.5 billion. that's 5.5 billion is the largest increase since 2016. so, if you're going to see the velocity of the move that we had last week in yields, see the velocity of moves that we had earlier in the year then absolutely you're going to see a lot of the cyclical. re-opening sectors begin to be favored and a lot of capital could flow into that because
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money has been hiding out in technology technology overall and even health care. i'll point health care out because it's been a little bit of a defensive play in the last six weeks. look at the sectors today. health care is down 1.4% the worst sector decline of all the 11 major sectors we study. you're correct we're basically right now unfortunately trading the direction of yields. but shannon paints a picture, joe, almost like a tom lee where you can have an everything rally and the activity within the market and perhaps underneath the surface a little bit would suggest that maybe that's not the case, that you'll go right back to a scenario of higher rates equal lower tech and more money flowing in, re-evaluating stocks you get everything rally, you can do that or just going be back selective again and you'll get rotations.
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>> so, here's what i think on that i don't think you're going to get an everything rally but i think you have to have the everything positioning i think you want to avoid concentration because if you don't have an everything rally what you'll continue to have is rotation in the market in which one strategy or one sector is favored above all. i'll just give you and example i hold technology. i hold consumer discretionary and then i hold financials so i'm kind of in both places. i'll let the market work for me but i don't think at any one given time everything is going to rally i think it will continue rotation and performance >> let's go to steve liesman >> reporter: scott, thank you very much. tapering may soon be warranted assuming the economy continue to improve picking up the line from the federal reserve statement align itself with comments made
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by j. powell he expects inflation 2% next year sees it moderating now even and recovery shows solid momentum but a full recovery will take time growth, you guys will talk about that 5.5% to 6% this year strong are in the first half slower in the second half. still a long way to go for maximum employment he votes at the fomc meeting he's on board with a taper soon. >> the other part of the equation is, you know, ago taper soon what happens if rates start to really take off to the upside, steve? what's the impact going to be on the next move that the fed may think it has to make and when? >> reporter: you know, i think the fed will see higher rates as observing a break on the economy and offsetting the for the fed to act assuming it's concerned
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about inflation. a lot will tell. the economy should have higher rates given that it's normalizing. some of that process is just part of normalizing the economy. there could be some inflation concern in there the fed will look closely at why rates are rising is there a term premium aspect to it? >> yeah. as you say, you want them to rise it would be proof that the economy is, in your words, normalizing or the fed's words steve, thank you very much that's steve liesman with the news there if you're entering a more normal economic period, rates are going to go up, which is just fine, but one group of stocks is going to rise at the expense of another. is that how you see it or do you subscribe to the fact that everything can go up >> i think we are in a period of
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a rotation and as you opened up the state of ohio think that period of rotation can be sustained here for the next few months, probably taking some of the profits out of the technology stocks that have done so well and going to the energy andre-opening trade. i'll make one comment on the rate side of the equation. rates are up today but i don't know that they will go that materially higher in the coming months because if you look at the fair value of rates it's a function of how close are we to the first rate hike and just how buoyant the growth is. i would say the growth is doing just fine but not necessarily revising growth materially higher i don't know we will in the next few months we're not fast forwarding the rate hikes that much more. i think we're somewhere around fair value on rates. but having said that i think there's other headwinds that technology investors need to watch. it's maybe a little bit on the rate front but also it's what else will happen with the 3.5 trillion reconciliation package.
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what does it mean in terms of corporate tax increases, increases on foreign income and what does it mean on capital gains. will some investors take those profits especially because technology sector can be hit kind of from two sides of this tax angle. that's the reason to rotate a little bit out of technology stocks to everybody's point on the committee it's not about selling them outright it's about taking a little bit of the gains. personally i think some trades that outperform in the next few months are going to continue to be the ones doing so well today which is being long energy and being long the travel and hospitality stocks these outperformed significantly since mid-august and i think that continues >> i find it so interesting that we're suggesting that, you know, rates aren't going to rise let's just say 2% is our line in the sand they are not going to rise to 2% because the first rate hike is
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still in so far into the future interest rates won't reflect the fed will move any time soon. we're also suggesting, i don't know why rates should be so much lower than 2% if you're in a more normalized world regardless when the first rate hike will be in a normal sense we would say okay rates are perfectly reasonable at 2% you have a normalizing economy the fed is still in the game somewhat may be depressing in a higher move in rates given where we are and where we can go from a more economic period >> i think we're somewhere at the bottom of the range here, 1.5% in the ten year we're going to see a move toward 2% but it won't be by the end of this year. maybe by the middle of next year if you look at the rates models it's a function of how much does the fed own and how much are they buying and they are still controlling 18% of the
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treasuries out there you won't have an immediate pressure higher on rates because they are going to taper. a big factor is what is the economic forecast and what will it do in the next few months i'll tell you in the u.s., i'm not sure we'll see higher growth revisions in the next few months but the place to watch and maybe that's what could move reits higher is global growth. we're looking for a very strong growth rebound in q4 especially in emerging markets, certainly in china and even after china. i think that could be one wild card that move those rates higher again that benefits right back to the energy trade and the re-opening trade because it's not being priced in right now and that's the pickup in international activity >> it's showing up today obviously epicenter stock is up, financials are up. what i found interesting too, when was the last time amazon got its price target cut
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the price target gets today to 4100 from 43 at morgan stanley and mostly that's the cost of labor rising nonetheless it's noteworthy to me when we have a conversation about trajectory of big tech that amazon of all companies gets its price target cut by a major firm i don't remember the last time that happened or when it was last but it sure doesn't seem like it was recent >> no, it doesn't, scott and it certainly seems like something you would expect to see, though, if you know that fuel inputs are going up like crazy. whether amazon is flying their own fleet, driving their own fleet or whether they are dependent on somebody else that's an input cost they have to account for then there's the wage pressures you've cited as well then there's the fact that a lot of these goods are not even by a giant like amazon, you're not able to acquire these goods as cheaply, scott, when you just can't get them i mean we're backed up
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it's only nine days i guess they say in the port of long beach, but still that's a back up that's causing the folks that have these demand pulls to be able to basically say well i'm going to hold my price as high as i can because i know that demand is there and there's just not the supply to meet it. just quickly, scott about interest rates and i'll be very quick. i think that the 10% move we've seen from last thursday, you know, basically 136 to 150, 14 points, about a 10% move, if it was a 10% move from 2 to higher, it would also be worrisome so it's not just that interest rates are low and we've seen a big jump it's, again the velocity, how quickly we jumped and made that 10% move i agree with the panel i don't think we'll just be off to the races with rates but it's a reason to really focus in on financials and the demand
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picture for energy is just hot, hot, hot >> are you concerned about the positions you may have in amazon, for example? you have both stock and options. >> i got stock but i got openings written against the stock. in other words call that i've sold against the stock and those calls are fatter premiums because of some of the performance of amazon just like the facebook the premiums are fatter right now, scott so you get a little bit more protection against it. still think that amazon web services and the other businesses that amazon is in other than what you and i have been talking about so far are going to continue to just be high demand and obviously failed pricing power like very few others >> so brenda, ubs is out today and thinking about the same thing that we are and that we're talking about. they say rising yields shouldn't end the equity rally but it could have an impact on relative sector performance and i think
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we agree with that mike wilson, by the way, says you want to stay defensive, this may be the time he says when markets are playing tricks on investors and even setting a bit of a trap. he's talking about why stocks rallied last week in the face of his own call for a 20% correction in stocks i mean i'll give him credit for holding his guns, keeping to his position there you want to take a position on either one of those suing begs either from ubs that yields won't end the equity rally or mike wilson who says we're basically getting a fake out >> one i think we can't forget we've been in this period of time where economic growth has been negatively impacted by the delta variant. it's beginning to lessen that should absolutely be a good thing. and could, better economic growth could support stocks as we head into the second half of the year and i also think with
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regard to interest rates, you know we saw the shift back into tech no surprise. i think we got a little bit of a growth scare that's the safety training but i think it's important to have exposure to both tech and some of these cyclical re-opening stocks. when we look at where earnings will come from, tech will be as impressive as always many of those cyclical sectors has potential to grow earnings >> let's be clear. we know that probably most of our viewers do have exposure in technology i mean the largest of the tech stocks in general are among the most wildly held anyway. we get it. but there's a difference, perhaps, in having exposure to having expectations. and that's really what i'm getting at here. i'm not suggesting should you buy or sell tech if you have tech should you sell because you think re-open stocks or ones that are more economically sensitive or
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cyclical will do better. where should our expectations be for the fourth quarter let's call that what we're looking at last few davis trading in q3 looking ahead to the final three months of the year in q4 where should our expectations be should they be if rates continue to rise that tech will continue to sell off and name will continue to work or booking holding, for example which hits a new high today which you happen to own or live nation which hits a new high today which josh talked about multiple times or an expedia or any other travel related names where should our expectations be that's what this conversation is truly about. >> yeah. i think the expectations should be more temperate for technology even though a lot haven't done in the last year they are facing tough growth comparison we saw that in last quarter meanwhile we have this
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re-opening that's been stalled and delayed, but i still think it will happen and i think many of those re-opening companies are absolutely going begin to benefit. so we still feel very strongly you should have some exposure to many of those re-opening plays including booking holdings that we own temper expectations for tech but don't sell it. it's important to have a diversified portfolio. keep in mind we might see better performance from some of those other groups that a little more economic sensitive >> like the financial, right, which are having a nice day today. cramer says i do think financials after group to be bought other than the oils you already have pretty good exposure within the traditional banks. bank of america, goldman and morgan stanley and american express and blackstone but you have a new buy and that's sofi you must agree that you want more financials exposure here. >> yeah. without question of the last six weeks i've been on the show
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talking every appearance about adding to financial exposure for the exact reason that the possibility would exist that yields are going rise until the end of the year. yields will rise, growth will be challenged, that should be your expectation. i agree. you don't get out of growth names. expect that growth will have muted performance relative to the re-opening trades and financials are a part of that. i love financials overall as a sector i believe they offer something very compelling, that energy and materials might not offer and that's really the domestic exposure and the strength of a balance sheet and i really suspect that with the consumer and corporate behavior it's only going to acceleratein a re-opening environment that's going benefit financials sofi is a name i added recently. we all know the fundamental story surrounding this company, phenomenal ceo, friend of the network, liz young we understand the relationship there my buy here is predicated on the
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study of momentum. that's what i do what i can tell you is you're witnessing range and volume expansion in the last ten days that indicates to me that there's further upside potential that could carry the stock above $20 in the near term >> what i find interesting, shannon, i asked the producers to ask the committee members what sectors do you think will do best in q4 and what specific stocks do you think will do best among that you don't have financials as your top three sectors you have industrials, tech and health care. john today doesn't have tech, excuse me doesn't have financials among the best. he has energy and tech why are financials getting more love, shannon? aren't they having a break out or not >> well i think it depends on what part of the financial sector you're looking at i do think getting there -- >> you didn't say money center or private equity or this that
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or the other neither does john. >> well, i do have financials. >> i'm not talking about what you own now. forgive me >> as my break out i get it >> what will do best in the q4 neither one of you picked financials >> i don't think this will persist. i think this yield curve move i don't think we'll get the veracity of the move we experienced in the first quarter. i think there will be a desire as we go into the end of the fourth quarter to position in names that are potentially more -- we were talk about 2019 financials were supposed to be the break out. they were to lead the value rotation we've been waiting for this i don't think it's sustainable these companies are disconnected from the benefit of yield curve, you know the spread and for me that's not where i think it's going to do best we're equal weight they will be fine. but they won't lead the charge in the fourth quarter.
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>> john, look, again, i didn't mean to suggest you don't have any exposure in financials you obviously do you own bank of america shares i'm sorry. you own jpmorgan shares, bank of america calls, capital one calls, key corp calls, visa calls, wells fargo calls and you do think rates are moving higher you told producers you don't think financials will be one of the best performing groups in the next three months? >> i think they've already don't. you look at jpmorgan, for instance jpmorgan is up 150% over the s&p 500. you know 31% versus20% or something like that. so i think that, you know, over this period, i said okay i think jpmorgan will get beat by the likes of these energy companies because demand is just up there
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like crazy, production has not kept up. and that's not just production and, you know, the exploration company stuff that's mid-stream, that's the natural gas boil, b-o-i-l an etf that attracts natural gas. it's a double, a leveraged etf for the upside for natural gas was up 8% early in the morning i mean these are a sector, energy overall that are going to outperform what banks can do after the banks have already done what they've done yes, rates are going to go up. i think we top out 175, 180. i don't think we get over 2 by year end banks will do fine in that environment. as you described i'm overweight in that sector pretty heavy and throw square and some of these others in there and i'm really strong in the banking space. but i think energy is going to outperform and i think after rates top out here people will
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go right back into tech and then i think tech zooms to the upside as well. >> joe, give me something quick. >> i actually think energy has already made its move. i think energy you want to look for your opportunities in the debt market, high yields specifically i think financial, yes, rates moving up that's a bonus but think to yourself whether it's all these nontraditional asset, nfts, crypto currency there's so much collect out there. it's all about the management, pricing, trading of assets that's why goldman and morgan stanley are doing so well. balance sheets of these institutions, financials have totally recreated themselves they are buying back their stock. they are experiencing loan growth both commercial and residential if we're going to see this re-opening trade. there's so many different trade winds that could benefit financials it's the cleanest and most c
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beneficial way to play >> we have a good debate to be had on energy in and of itself as goldman sachs raises its brent target to $90 a barrel go ahead joe >> remember oil can go to 90 and energy equities don't perform concurrent with that we went through that same experience several months ago and that led to a significant unwind of energy equities. so be very careful extrapolating because the price of oil is $90 you're going to get that same performance in energy equities history will tell you that's not the case >> maybe that's why shannon said least favorite sector for q4 is energy we have a difference of opinions clearly. >> a bit of a difference of
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opinions i do agree that just because toil doing well doesn't mean energy stocks will do automatically well here's why i like it the cleanest story i think we have in the world right now is this that we've managed through the third weave of the delta variant and case loads are declining drastically around the world at the same time the vaccination rates are picking up significantly. if we were talking in july of this year, it would be 28% global vaccination rate. today it is 45% and going higher what does that mean? that means mobility will pick up and doing around the world so to john's point this is signifsigni significantly strengthening demand and supply can't keep up. the fundamental difference to me for the energy stock, the reason that why sometimes we didn't respond to the high oil price because it was high on the front end. then you moved into strip and not actually trading at six year or seven that's changed today you look the at the next 12
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months it's firmly above 70 and probably even further out. so this means that energy companies have some visibility of cash flows that they can rely on free cash flow that's much, much improved for these companies they are returning that in terms of dividends to shareholders if you look at something like xle 4% dividend yield. if you look at the share buy backs, also back for the energy stocks what i like about it is energy today is everything that it wasn't in 2015, and by the way if you're an investor more and more oil and gas companies are taking that into account as well i think it's one of the sweet spots. it's rally ad lot but if we have a pull back i would be a buyer >> we'll leave it. up next more fourth quarter picks from our investment committee plus joe unloads a red hot tech stock that's up more than 85% you might own it as well we'll talk about that next
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welcome back here's our cnbc news update. a federal judge says the man who tried assassinate president ronald reagan can be freed from court order restrictions because he's no long ear threat. john hinkley jr. has been living in williamsburg. on the greek island of crete a magnitude of 5.9 earthquake.
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no one from afghanistan will address the united nations general assembly taliban officials and the ambassador from the former afghanistan government wanted to represent their country but u.n. officials say that no one will speak on behalf of afghanistan and house democrats will be meeting later today to discuss strategy on passing the infrastructure bill. on the news tonight a look at some crucial votes in congress funding the government, raising the debt limit fuel analysis tonight at 7:00 eastern. now back to you. joe, referenced this before the break. crowdstrike. you sold it. >> right i did. first let me qualify this. it is possible to sell a stock that you think is a very strong fundamental company. and that's the case with crowdstrike. i know josh brown and jim cramer
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both will get mad at me. this was a trade back on june 7th i bought crowdstrike at 214.25. i specifically bought it because at the time long duration assets were correcting significantly. i took advantage of that >> okay. >> now i'm beginning to suspect that longer duration assets are going to roll over the other way and that's what crowdstrike is so i'm ringing the register. i still believe in cyber security fort net is my longer position >> i love the disclarm you know you'll catch some heat for selling a much loved stock like this. >> absolutely. absolutely but, within the portfolio, i amman-- i am smanage my portfolios that got me in the
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trade for the same reason to get out of a trade i suspect we're going to the other way and i get out of crowdstrike. >> i also wanted you to give some picks remember i said going into q4 what are your favorite sectors, what are your lease favorite sectors and what are you best stocks you gave american express and lulu >> financials, consumer discretionary. these are sectors and health care as well but financials we carry significant overweight i believe in financials as i said before. american express that's about the re-opening about the return of corporate travel that's about the consumer, the affluent consumer going out and spending lululemon, this is just a company that is performing on all of your expectations fundamentally. and it really is delivering not only in brand recognition but just with the diversification of product that really is
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unrivalled i find myself wearing the pants bust going out and buying other things from lululemon. it has created itself into a brand franchise that is rivaling if not selling relative to any ke >> brent darks in the context of where you think investors want to be in the months ahead at least the fourth quarter, disney, boeing, your best stocks why >> i think disney as we know hasn't done a whole lot this year over one year still a tremendous stock. i think things are setting up well for this company particularly in children becoming vaccinated here i think that's going a game changer for a lot of families that were planning park visits and other things even though despite the delta variant, visit to parks have been pretty good i think we still have that going for the company. on top of that we look to the future the company may shorten the window of time that films are
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available for theaters in order to really to don't capitalize on that disney plus audience. i think there are some great growth drivers for the company >> shannon, union pacific, paypal, advee. >> still looking for disruption whether growth versus value. i look at ump will benefit from this manufacturing rebound which will be sustained for several years even with a smaller or larger infrastructure package. paypal we're talking about it whether financials or technology it's land and expand for paypal. they have an engaged user base and a lot of punt for them to go >> dr. j., right back to where we started the conversation. devon energy, marathon oil right? >> yep reason scott are just as was
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said or as i said, i think demand whether it's mid-stream, net gas, whether it's production and sales, i think this is an area that you can get true alpha going into the end of the year because demand is sky-high and those re-opening plays a lot of them we discussed airlines and cruise ships they use a lot of this as well a lot of movement of those once those ships get unloaded and get put on trains and then out through distribution centers, scott, that's all energy related and i think these plays really will work to the end of 2021 >> we'll take a quick break. come back. unusual activity as always do not miss those trades coming straight ahead on that
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welcome to the etf edge portion of "halftime report" i'm bob pisani tax wars have come to etfs senate finance committee chairman has proposed a new tax on etfs to help pay for the $3.5 trillion budget plan the measure would stop investors to avoid capital gains on in kind transactions. traders can swap the underlying asset for another without producing capital gains. one of the primary tax advantages of etf. etf industry is fighting back. let's talk to the ceo of the investment company institute which represents mutual funds and etfs, briefly. what is in kind transaction.
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why do the democrats want to tax it why is this a threat to the etf industry >> big time transactions are how etfs manage their portfolios make sure their prices follow the market senator wyden want to tax these investments. it's basically to raise money. it's bad policy. it will punish investors, people who are trying to invest for the long term will see tax bills every year they will see more taxes this is going to discourage them from doing long term investing this is exactly the wrong type of policy we need right now. we should be encouraging people to buy and hold, save for the long term, save for their retirement and education it's also going affect middle income americans $125,000 is the median income of 12 million american families that own etfs. in 92% of them have incomes
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below $400,000 which is joe biden's line for not raising tax. this is bad policy >> you know, tom, this isn't the only tax proposal that affects the financial business biden wants to boost the capital gain trade which is now top rate 206% how would that proposal affect etfs >> well, one key thing high tax rate will go to 37 and 39.6 but if you're making more than a million dollars they are talking about boosting the cap rate up to 39.6 as well. key point that eric is pointing out for the average etf investorer and biden is clear, he said if you make under $400,000 a year don't worry i won't tax you. 92% of households that own etfs make under $400,000 a year in fact the median household that own etfs make $125,000 a year so that's not really fair.
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i think if we were thinking about people like jeff vogel he would be rolling in his grave. eric is right. when you think about our kids who are saving for the future, live longer and can't really count on social security, bob, this is going be a big blow if it goes through. >> yeah. certainly one of the big advantages in the last 10 or 15 years is the great move up the explosion in etfs. this came would put a dent in that we'll talk much more on this on the upcoming budget battle how it's affecting the investment strategy at 1:00 p.m. eastern time and be joined by ed ro rosenberg. he'll talk aboutalternative forms of investing around flioasinatn well. halftime is back right after this
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>> what do you have for us today? >> scott, i know you're a huge fan of horse racing so i picked a stock that's named after a horse, affirm is a company that
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buy now pay later. when peloton had problems it hit them then of course amazon famously put them on the platform and the stock was off to the races and the pun is intend. take a look at the weekly october 1st, 130 calls scott it was 129 they are buying those 130 calls in big numbers and this is a perfect example of the right way, i think to play it because the stock has had a tremendous run still $16 under the high of the year but buying a call for $3 instead of spending $129 great way to play it. second one, scott. is dt. dt is artificial intelligence. the stock has doubled this year. they are buying november 74 calls with a stock at 72.50. i bought the 72 calls. >> appreciate that cnbc delivering alpha is back this wednesday september 29th bringing together southeast biggest names anyone vesting
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so they changed their motto to if you can't beat them, join them leslie picker following the money tells us more. hey. >> hey, scott. convergence is the industry lingo here, the merging of hedge friends with venture capital style of investing hedge funds such as tiger one and others have invested more than $150 billion into startups this year, already surpassing last year's record it has marked a huge shift in the venture capital landscape which all of a sudden is seeing a rush of capital from a different type of investor, one which is willing to do fuels faster an at higher investment and not interested in board seats. startups really like that. why are hedge funds all of a sudden attracted to this market in the first place they're chasing returns. you can see here, private market strategies generating annualized returns last year around 14%, twice the performance of hedge funds. that wasn't the case a decade
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ago when performance was nearly identical. past performance is not indicative of returns. number one, whether these deals have enough diligence and discipline in terms of valuation. we will be discussing that theme, those questions, many more at "delivering alpha" on wednesday of this week it is not too late to register at scott. >> are fees impacted at all, leslie, by the new strategies? if anything, fees have been coming down. >> interestingly there was a recent goldman sachs report that showed that fees for hedge fund managers that dabble in private strategies, and i thought it was surprising, are actually lower than that of traditional hedge fu fund managers despite what it means for performance as we showed you interestingly 1.74% was the average and more of a two and 20
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model for private equity the idea here is that kind of because they're entering into new territory it is a way to coax lps to come along for the ride they're locking up capital for a little bit longer, letting them invest in these new markets at hopefully higher returns if it pays off, i would guess you can expect them to increase those fees over time >> of course i mean the great investors, the ones with great track records and some of the biggest names are still commanding high fees for a reason, because they continue to deliver a lot of alpha. >> exactly >> good to see you thanks speaking of, i will be speaking to two top investors at this year's delivery alpha brad gerstner, the ceo of altimeter capital, allak ting place on wednesday final trades are next.
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and a commitment to get youe the best price on every trade, which saved investors over $1.5 billion last year. that's decision tech. only from fidelity. let's do final trades. joey, you are up first >> eqt, a name i purchased recently i like natural gas names better than oil credit here. unusual activity consider natural gas stock, scott. they have heavy short interest this one has 6% short interest >> ruby joined by the way by mark fisher on wednesday i think you are on that day. he will have a lot to say about what is happening in the energy space. looking forward to that. jon najarian >> i'm going to throw it right back at joe, scott sofi joe, you will love this. sofi calls, the weekly calls, 18 calls, boom, boom, boom, bought. i'm in those
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>> sharing some ideas. i like that. brenda >> cvs should benefit fourth quarter traffic from boosters and a cold and flu season >> shannon >> cgnx >> all right it is good to see everybody. keep your eye on that ten year, just below 150 it does it for us. "the exchange" is now. ♪ ♪ thank you very much, scott hi, everybody. i'm kelly evans. ahead this hour, ongoing supply shortages, worsening gas crisis in the uk, debt and power problems plaguing china and an imthem government shutdown here in the u.s is the recent rebound in stocks setting a trap for investors we will discuss the latest on that first speaking of a government shutdown, stifel's brian gardner says the risk has a u.s. debt default decreases. what he says the democrats need to get done and what


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